Acting head of the Commonwealth's Retail Bank, Ross McEwan, said as well as signing up for additional security measures like two factor authentication using tokens or SMS, users are taking other steps to safeguard their online activity and are generally more security savvy.

McEwan said the survey also shows a 26 per cent jump since 2006 in the number of over 50s logging on to Internet banking services proving online banking isn't just for Generation X and Y.

"That's a jump of almost half a million; baby boomers are catching up and taking up online banking at a faster rate than ever before," he said.

"This increase in online banking use goes across the board, with more than 1.3 million customers joining the online banking revolution in the last year alone.

"Australia is now one of the world leaders in terms of online banking use."

The E-Money survey found the average user will check their account balance around twice a week online and transfer funds around once a week.

More than two thirds of online bankers use the service to schedule future payments of bills or money transfers, or to pay their credit card.

The survey was released to coincide with the 10th anniversary of the launch of NetBank in Australia. It was the first online banking service offered by a local bank and has over 2.3 million registered users.

Slideshows

Selling beyond the CIO – How partners can influence the new breed of tech buyers

This ARN Roundtable, in association with Oracle, highlighted the emergence of a new breed of technology buyer, assessing how partners can engage outside of IT, and the skills required to sell across new business units.

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